Although Chromecast Audio was discontinued, you can still make your vintage speakers or favourite AVR systems alive by using Chromecast to stream music to dumb speakers, just like what Chromecast Audio does.
Of course, this may require additional setup and one additional gadget (a few bucks) unless your speaker or AV supports HDMI input.
This Chromecast guide explains why you may consider using Chromecast to stream music to dumb speakers and how to set up the system so that you can continue streaming music to the speakers and AV systems without Chromecast Audio.
Update: the latest Chromecast 2020 (Chromecast with Google TV; Chromecast 4th Gen) merges Chromecast, Chromecast Ultra, and Android TV. There is no successor to Chromecast Audio. The Android TV OS enables some useful features, e.g., accessing Google Play Store, enabling developer options, and sideloading apps. The voice remote also added new ways to control the Chromecast with Google TV.
Update 2: Google TV Streamer now replaces Chromecast with Google TV. You may use the HDMI output of Google TV Streamer for your AV system or dumb speakers.